LambdaTest raises $45 million in a Series C financing round

    LambdaTest, a well-known test execution platform, disclosed on March 29th that it has raised $45 million in a Series C financing round led by Premji Invest. Existing investors Leo Capital, Sequoia Capital India, Telstra Ventures, Blume Ventures, and Sandeep Johri, the former CEO of software testing firm Tricentis, joined the round, bringing the all-time amount raised to $70 million.

    The cloud-based services offered by the four-year-old company enable users to test their websites and apps on over 3,000 distinct browsers, operating systems, devices, and versions of them.

    “We have built AWS for testers,” he said Asad Khan, CEO of LambdaTest. “We are not a testing tool company, but an enabler of an ecosystem where developers can run all kinds of tests written in any language or framework. The platform enables you to run your tasks at any scale from anywhere at any time.”

    LambdaTest is used by over 500 companies and a million developers and testers in 130 countries. The platform has assisted them in running over 100 million tests, achieving a 95 percent faster time-to-market, a 62 percent improvement in release productivity, and identifying 67 percent of defects before launch. Furthermore, the pandemic was a major factor in convincing many potential customers to try LambdaTest and led to a 300 percent increase in business last year.

    A few months back, the company released HyperExecute, a next-generation smart test orchestration platform, to let businesses perform end-to-end automation tests at the fastest possible pace. In addition, it will shortly deploy Test-at-Scale (TAS), a test intelligence platform that is now in beta.

    “LambdaTest is helping businesses orchestrate their test execution by providing them cost-effective and scalable solutions while giving them improved control over their existing infrastructure without the need to add more to it. They are pushing the boundaries of speed, reliability, and performance of test execution. We are happy to partner with this super ambitious LambdaTest team that is looking to change the face of test execution,” said Atul Gupta, a partner at Premji Invest, in a statement.

    The company intends to expand both its offerings and its workforce. It currently employs roughly 250 employees, most of whom are based in India and the United States. With this funding, Asad Khan said he plans to aggressively grow the team in the Bay Area.

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